The question then becomes a matter of which camp outweighs the others. This has made it mandatory for the coastal plain area to be consistently evaluated by geological and seismic exploration. Any investments recommended by Investment U should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. On the contrary, the environmentalists oppose the idea stating that oil drilling increases environmental pollution and disturbs the biodiversity of that area. SolarCity is disrupting the century-old utility industry by simply bypassing it. Some are of the opinion that since oil is a basic necessity that is utilized for carrying out our day-to-day activities, why not drill oil to meet our requirements, other than relying on foreign oil. As organisms die, they settle at the sea bottom, which are then covered by layers of mud and sediment depositions.
Though the coastal plain where oil proponents wish to drill takes up a relatively small corner of the 19. According to this method, shock waves are sent to the land surface or sea surface, to estimate the time taken by the waves to return. The pros and cons of oil drilling has been a debatable topic since a long time. High amounts of pollutants are released during the developmental stage when workers setup roads, crew habitations, and derricks. The name means 'mainland' or 'great land'.
One of the reserves being most seriously considered is, of course, the Arctic. Currently, the most popular region for kind of drilling is in the continental shelf, which contains a vast amount of oil under it. Seismic pulses caused by earthquakes can scare the wildlife away. Right now, the closest U. This can put a squeeze on the U. The Arctic is governed by the , a collection of eight countries whose international borders lie directly within the Arctic Circle.
Since, oil is a non-renewable source of energy, why not save these oil reserves for future generations by looking out for alternative energy sources like solar energy, hydroelectric powers, and wind energy. Within days of the explosion and the sinking of the Deepwater Horizon rig, 11 people died and an estimated 3. Pro Another advantage of drilling for oil in the U. It was recognized as the 49th state of the U. Along with the technological advancements that bring along the ability to identify oil and gas pockets, ice is rapidly declining in the Arctic Sea.
How would we heat our homes? Hundreds of pelicans black with oil were washed up on shores, along with smothered turtles and fishes belly-up in brown sludge, because of that disaster. Supply chains would be lengthy, and exploration seasons limited to four months of the year. Increases National Defense Every dollar that the United States spends from importing oil from Russia, Venezuela, and Middle East can help strengthen terrorists and communists that can pose threat to the national security of the U. Like virtually every Gwich'in man, he still remembers every detail of his first successful hunt, four decades later. For years, the Arctic has been a frontline in the battle over the future of energy and climate change. We do all kind of oil research. Pro Drilling for oil in the U.
With a reduction in the price of oil, other markets that oil prices affect can potentially feel a boom. Learning all about the risks and benefits involved with offshore drilling can help you to develop an educated opinion on this subject. Even modern technology is not perfect, and we are taking a big risk in terms of preserving the environment simply to discover and extract more oil from the Earth. Nestled between Siberia and Alaska, with an area of 230,000 square miles, the Chukchi Sea is navigable only four months of the year. And given how long it takes to explore and develop new offshore oil resources, the time to start is now.
Only further development of U. To stress the point, let us take you back to April 20, 2010 when one of the worst oil spills in U. The technology for drilling and producing oil in water less than 200 feet deep has been around for decades. It has created quit a bit of controversy, claims have been made that it is a detriment to our environment and life in the ocean. On the other are roughly 9,000 Inupiat Eskimo, whose once-ramshackle coastal villages have been transformed into modern communities with schools, clinics and indoor plumbing since oil started flowing from Alaska's North Slope in the late 1970s.
While on the fringes of the Arctic and Antarctic helps to uncover these stored resources, opponents of oil drilling and resource extraction point out that the reason why the pack ice is melting in the first place is because of global warming due to irreversible exploitation of resources and the burning of fossil fuels. This is why most countries partner with a private organization to finance the rig. Because of its remote location and harsh environment, it has remained largely unchanged throughout the course of human industrialization. This makes it feasible to explore the option of Arctic drilling. After that, it should decline to about 7. Opponents argue that the proposed economic benefits of oil drilling in the Arctic are minimal, and that the drilling severely harms local ecosystems and species. Moreover, with more oil, there will be no need to be on the beck and call of oil suppliers who dictate on its price in the global market.